CEY is a gold mining company operating in Egypt. It was ordered by the Egyptian Government to stop drilling pending a legal dispute brought against the company by a government minister.

Since then, the whole Government cabinet was replaced a few months ago and the minister now in charge of Mining is believed to be positive on Western investment in the country. CEY are pushing for this minister to allow them to continue drilling ASAP; investers are waiting....patiently.

As soon as the company gets the go-ahead to continue drilling, the share price will move north; CEY has plenty of gold in this mine and it is (apparantly) the case of "raking" it out rather than drilling for it!

Check them out...worthy of a punt.

thats most unfortunate for all of us pth,i like your charts and comments.
perhaps you might bother a little more often in future? i for one would appreciate it.
thanks
regards
jkd

jkd

Nice of you to say so, but after quite a few years on this site, I'm becoming increasingly frustrated with the rampers, bashers and those with no idea but like to give the impression they do. I'm considering running my own website, not to give tips, but some charting ideas and of course a historical record to remind me of the mistakes I make like everyone else!!

beginning to sound like a miserable old g*t........come on pth .....

wot ho Emu ..... glad you held on? ...... i know that you're still some way off b/e but at least your running loss has been halved

don't take the p##.....you could have told me there was going to be an uprising....seems that waiting for it to come right apply's to many shares at the mo, inc XEL.,.

it's certainly been a bit rocky for AIM stocks over the last couple of weeks

Good quarterly report out.,.

Centamin Egypt reassures over unrest
Tue 01 Feb 2011


LONDON (SHARECAST) - Shares in Egypt-based miner Centamin rallied as it issued a reassuring statement over the impact of the curent unrest in the country.

"Recent political events in Egypt have not affected the safety of the company's employees or its day to day operations at its flagship project, Sukari. The company looks forward however to a speedy resolution to the current uncertainty and remains confident that such resolution will not negatively impact on the company's investment," it said.

The miner added it achieved record quarterly gold production of 53,189 ounces from the Sukari gold mine, with production averaging over 20,000 ounces per month in November and December.

"As expected, the installation of steel liners and lifters in the SAG mill during the quarter has substantially improved plant operations and reliability. The two consecutive months of record gold production in November and December demonstrate the deliverability of a substantially higher production profile in 2011 with our existing operations," it said

Cash operating cost averaged $498 per ounce for the quarter, making an operating profit for the quarter of $18.4m, while cash and liquid bullion assets totalled $166M.

"Expected 2011 production will be in the range of 250-290,000 ounces with average cash costs around US$450/oz. Further guidance is planned for mid 2011 as more information becomes available on the timing and scale of commercial underground production rates," Centamin added.

I thought they said the report would be out at 11am

have bouht back in.

Gold miner Centamin Egypt (CEY) has said its operations have escaped unscathed by the political unrest which is gathering pace in Egypt.

The FTSE 250-listed group used its fourth-quarter results as an opportunity to assure markets that recent political events have not affected the safety of the company's employees or its day to day operations at its flagship Sukari project.

"The company looks forward to a speedy resolution to the current uncertainty and remains confident that such resolution will not negatively impact on the company's investment," it said.

Centamin's statement came after Egypt-focused stocks found themselves thrust into the spotlight as protestors fight to end the 30-year rule of President Hosni Mubarek.

Renaissance Capital said in a note: "All this is much needed good news from Centamin whose share price is at the mercy of the political situation in Egypt."

Further good news for the shareholders came in the form of record quarterly gold production of 53,189 ounces from the company's Sukari Gold Mine, with output averaging over 20,000 ounces per month in November and December.

The company attributed higher process plant throughput for the stronger quarterly figures, following the introduction of the SAG mill steel liner and lifter system in early November.

"The two consecutive months of record gold production in November and December demonstrate the deliverability of a substantially higher production profile in 2011 with our existing operations," said chairman Josef El-Raghy.

Looking ahead, Centamin is targeting 2011 production in the range of 250-290,000 ounce with average cash costs of $450 per ounce, although this is slightly lower than previous guidance of 300 ounces.

Daniel Lian, research analyst at Bank of America Merrill Lynch, said: "Our sense is that the new guidance is very much on the conservative side, given that 2010 was impacted by unexpected ramp-up issues. We believe the risk to this guidance is to the upside, especially once the company completes the reserve update and

When democracy comes into Egypt, it will be better for Centamin in the future.

Thanks to the revolution.

could be a while yet as initially the army will control

Early days yet and prefer to stay out of CEY. If the militants and extremists start to kick in as agents provocateurs then the military may start to use live ordinance. Also, if Mubarak goes then a vacuum will occur, which may spook investors until elections are held. Too much downside risk, imo.

good managementand they do keep investers up to date .

I think it is a good buying opportunity now.

Out at a profit.....the buying opportunity was the last 2 days...not now....might buy back but not until the political storm drops....

all is going to fine 200p plus is on the cards

TANKER - 27 Jan 2011 12:56 - 561 of 619
I did tell you under 100p on way.

ald .yes but the panic is over get in 200p plus easy